MAA bought the 33.6-acre complex Tuesday from South Carolina-based Johnson Development Associates. The community has been renamed Station Square at Cosner’s Corner, a nod to the Virginia Railway Express station that will be built just down U.S. 17 from the complex.

The deal was done in two separate transactions. MAA paid $44.64 million for the 260 apartments that have already been developed and that are about 75 percent leased. The REIT paid $4.25 million for the undeveloped land where the second phase of the apartment community will be built.

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As you consider your options for the future, and look for places where you can rely on political and business support for weapons related industries, we urge your strong consideration of our community in Virginia located midway between Richmond and Washington, DC.

Beretta USA has been a valued business member of our community since 2000 and enjoys a mutually beneficial relationship with us, and our enviable location.

Spotsylvania County is proud of its heritage and commitment to personal freedoms, less government, low taxes, and law-abiding citizenry.  You may already know us from the history books as the site of significant American military battles and courageous leadership, but we are also a modern thriving community that would compliment your employees’ and business’ needs.

You will find our elected leaders (several former military) quite favorably inclined to support gun research, manufacturing, distribution, repair, modification, testing, and related activities, particularly regarding national defense, public safety / security, and recreational purposes.  General information about our County can be found at  www.spotsylvania.org.

Click here to view a factsheet describing our Economic Development Authority, which is appointed by the Board of Supervisors and serves as the entry point for all projects seeking County support.

We have a specific property in mind for your use.  It is ideally located, favorably zoned, rail served, vacant, clean, and physically suited for industrial use, having been used by General Motors for many years.  See details at http://www.racertrust.org/files/fredericksburg-marketing-brochure.pdf. We also have industrial, commercial, retail, and undeveloped properties available to meet your more customized needs.   We are prepared to meet you any time, any place, to discuss your future with Spotsylvania County, VA.

Sincerely,

Tom Rumora, Director
Email- trumora@spotsylvania.va.us
(540) 507-7210

Spotsylvania County Department of Economic Development and Tourism | 9019 Old Battlefield Blvd, Suite 310 | Spotsylvania | VA | 22553

The Free Lance-Star recently reported that the General Services Administration had received about 35 submissions from localities and developers interested in hosting the FBI’s new headquarters. You can read that story here.

In addition to Spotsylvania, Stafford and Caroline counties have also thrown their names into the hat.

Spotsylvania’s new website notes the county’s low taxes—the current real-estate tax rate is 88 cents per $100 of assessed value—and “shovel ready sites of varying size.”

“We’re prepared to use every tool available to help the FBI and other government agencies relocate to Spotsylvania,” Board of Supervisors Chairman Paul Trampe is quoted as saying on the website.

The site includes another quote from EDA Chairman Hart Rutherford: “We’re committed to making your project a success with a streamlined process and incentives.”

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Buildouts are under way for the following planned stores and projects:

• Kabob Corner, a restaurant that has locations in North Stafford and along State Route 3 in Spotsylvania, will open another eatery in a vacant space in the food court.
• The 3,000-square-foot Chico’s store next to Bravo! Cucina Italiana in the open-air Village section of the mall. Chico’s will be moving there from Central Park.
• The 6,900-square-foot Buckle store next to Hollister inside the mall.
• The 3,600-square-foot Body Central store between Papaya and New York & Company.
• JCPenney continues to renovate its store in an effort to create “stores within a store.”
• DLR Contracting Inc. is doing work on a vacant space near the Park Lane Tavern in the Village section, but a tenant has not been announced.
• In addition, a major renovation is expected to start soon at the Belk store.

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Trane will distribute air conditioning equipment from the facility at 11205 New Albany Drive. Three local real estate investors and businessmen — Michael Colangelo, Tim Welsh and Philip Atkins — will own the building and lease it to Trane.

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The organization bought 4.7 acres at the corner of Lansdowne Road and New Albany Drive from Lansdowne Investors Inc. The sales price was $807,000. The property is in the Lansdowne Business Park, which is home to several businesses and a church.

The Salvation Army offers an array of youth and worship programs at its 4,600-square-foot facility at 821 Lafayette Blvd. in Fredericksburg. Its administrative office and thrift store are on Lafayette Boulevard near Paul’s Bakery in Spotsylvania.

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Regency Polymer Materials has signed a lease to occupy a 48,320-square-foot building at 5112 Park Drive near the intersection of U.S. 1 and Courthouse Road. The company plans to open the local plant early next year.

Regency buys industrial vinyl and aluminum scrap from manufacturers, contractors and others. It grinds the material—windows, fencing, siding and more—into powder and sells it to manufacturers along the East Coast. The powder is then used to make electrical conduit, fencing, downspouts and other products.

One of Regency’s largest customers is Mid-Atlantic Vinyl Products, which is headquartered on Commonwealth Drive off U.S. 1 near Cosner’s Corner in Spotsylvania. Mid-Atlantic Vinyl, which has grown through the recession, makes vinyl railing, fencing and columns for porches, decks and backyards. About 83 percent of the material that goes into its products is recycled.

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Greenfield, based in Falls Church, owns 12 senior communities in Virginia, Pennsylvania and Tennessee. It has two assisted living facilities in the Fredericksburg area, both in Stafford County.

Greenfield purchased the MicAnd building earlier this month from Dr. Abdul Durrani. The 3.7-acre parcel sold for $2.75 million. The company plans to spend about $1 million to renovate the building and hopes to reopen in late January of next year as Greenfield of Spotsylvania, said Kevin Bonello, communications director. The building is located at 9300 Onyx Court.

The newest Greenfield will have 66 beds in 48 rooms, Bonello said. Thirty-four beds will be in a locked unit for Alzheimer’s and dementia patients. Thirty-two beds will be for assisted-living residents. All of the beds will be for private-pay residents, rather than those who receive funding from the federal/state Medicaid program.

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The Spotsylvania County resident is one of a handful of auctioneers at the well-known Barrett-Jackson car auctions. He has helped sell hundreds of millions of dollars worth of some of the world’s finest collector cars.

The auctions, which are featured on the automotive-focused Speed Channel, attract an A-list of celebrities including Jay Leno, Alice Cooper, Sylvester Stallone and Reggie Jackson. Nicholls once sold a Duesenberg car for $1.1 million.

That sale was made a few years ago at Barrett-Jackson’s annual six-day auction in Scottsdale, Ariz. Three-day events are also held annually in Las Vegas, Palm Beach and Orange County, Calif.

Nicholls recently returned from last month’s Las Vegas auction, which generated about $23 million in sales and attracted about 68,000 attendees. It was at the Mandalay Bay Resort & Casino.

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October

REDCO publishes this interest rate update as a courtesy to our friends and partners. If you would like to discuss a specific project, please contact REDCO. They would like to help you and your clients.

The 504 program offers fixed rate loans to new and existing business owners to purchase real estate, machinery and equipment. REDCO can finance a loan anywhere in the state of Virginia.

If you know of a business owner that would benefit from the 504 Loan Program or have questions about how the 504 Loan Program works, please feel free to call REDCO.

REDCO is looking for great partners to help market the benefits of the SBA 504 Loan Program. If you are interested in discussing a partnership opportunity or would like REDCO to speak at an upcoming event such as a staff meeting, roundtable, or seminar, please contact: